Check Point Holding SupportCHKP is looking like a strong buy in this really tough market environment. It has held up well through poor overall market conditions. We have some downward momentum on the daily the price has completely ignored and reversed with someone bullish momentum. Weekly momentum is strong and weekly price action is still looking for a second a leg.
C1HK34 trade ideas
5/21/24 - $chkp - re-running #s, prefer other names at curr val 5/21/24 - vrockstar - 1 bn fcf on 15 bn ev is MSD fcf yield, ok, 15x PE on msd rev grow and 10% eps growth, ok. 6x sales meh, like 5x more for this growth when comp to similar or better growth B2B/non cyber names. not outgrowing leaders is drawback in this industry. israel geo also tends to get disc. in this mkt stock seems fairly valued all else equal ~150$/shr. a good entry likely below $130, but can buy beta risk off wick down that's not an idiosyncratic move. prefer NYSE:S , NASDAQ:ZS and NASDAQ:PANW in this choosy tape for best in class cyber plays
CHKP - Ascending Scallop With W PatternsThe scallop pattern is nearly finishing with price settling at the top of the pattern.
I expect a move upwards to conclude a W like structure that I have pasted with the bars pattern tool.
Similar W patterns can be seen in the past along the ascending scallop.
$CHKP breaking its 15 month base! Pullback recovering.* Excellent earnings
* Very strong up trend on the longer time frame
* Breaking out of a 15 month base
* Sector: Technology - Software - Application
* Relative Strength vs. Sector: 3.81
* Relative Strength vs. SP500: 10.48
* U/D Ratio: 1.95
* Base Depth: 25.82%
* Distance from breakout buy point: 1.75%
* Volume 13.76% above its 15 day avg.
Trade Idea:
* You can enter now as the price is very close to its breakout point.
* Or if you want to look for a better buy opportunity you can look to enter around the $137.47 area as that should serve as support moving forward.
$CHKP long-term buy (5/5)Conviction: 5/5
General Thesis
bounce from long-term support (1997), although it was broken in 1998
although a bit of indecision around 2000 peak (dash line)
Weekly RSI not quite at historical BEST buy point, but quite good
hovering near 200W MA
Growth
Margins high and stable
growth is low but around 50th percentile compared to self
Value
P/FCF is low: about 5th percentile
P/S is average: around 50th percentile
Fundamentals/Balance Sheet
debt/asset N/A
quick ratio good: above 1
Potential Risks
expensive market...
Weekly RSI could go lower, no bullish divergence
Bullish CHKP in about a week!This stock has shown a tendency to bottom out for exactly 7/14 days. I'd personally strongly consider buying the 110 calls for 400$ (exp dec 17) on Friday if no move has happened by then so I could own the position prior to Monday.
Naturally, don't actually do that. These are just my speculations.
CHKP. Perfect up-trending price action.If this doesn't work I will make me feel like an idiot.
I spent a lot longer on the scanner than usual trying to find a "perfect" setup, and I finally came across this picture perfect up trending action.
The chart as a whole is not great up trending overall, but this recent action is enough to fool me. This to me looks like the chart is saying buy buy buy. If that's not the case, I will need it taught out of me.
The red candle definitely is giving me hesitancy, but if we start to see some green closes I could be tempted to load the boat.
TRACKING CHKP BULLISH & BEARISH WAVE COUNTSI am currently favoring the bullish wave count over the bearish one. The defined range is highlighted in blue. The green lines give an estimated direction higher while the red one gives an estimated direction lower. I am tracking a break out move higher for CHKP but added the overlay of the bearish wave count which is still possible but seems less likely.
CHECK POINT SOFTWARE TECHNOLOGIES OfferHey people, CHECK POINT SOFTWARE TECHNOLOGIES is in a bearish configuration, attempt by sellers refused. CHECK POINT SOFTWARE TECHNOLOGIES is on a bullish support trend, which it will break to seek its last previous lower.
Big volume of sales executed, strong potential for growth in the area. The interesting level are the two candles coming out of the equilibrium zone, we are in the middle of a bullish gap. If we go above the first 2 higher then maybe we go to the 3rd and maybe fall later.
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Check Point Software Earnings Trade
Possible entry level $115
Target price at resistance $123.50
Stop loss below moving average $112
RSI rising
OBV bullish uptrend.
Company Profile
Check Point Software Technologies Ltd. engages in the development and market of software and hardware solutions for information technology security. The company products include threat prevention, next generation firewalls, mobile security, and security management. Its solutions cater to the following: point of sale systems, automated teller machines, private and public cloud, and telecommunications providers. The company was founded by Gil Shwed, Marius Nacht, and Shlomo Kramer in July 1993 and is headquartered in Tel Aviv, Israel.
Double Bottom breakout brewing for CHKPNASDAQ:CHKP - HACK led the tech-related ETFs in October with a surge and breakout. CheckPoint CHKP, which is part of the cyber security group, is joining the party with a break above the Sept high. Also note that lows in the 106 area formed a Double Bottom of sorts from August to early October. At the very least, this is a base of sorts. The breakout here in November confirms the pattern and CHKP is reversing its downtrend.